Skip navigation
  • FirefoxTry Yahoo Finance on Firefox »
  • Economic Calendar Terms

    MPC Vote Cut

    Bank of England
    Threadneedle Street
    London EC2R 8AH

    Interest rates are set by the Bank’s Monetary Policy Committee. The MPC sets and interest rate it judges will enable the inflation target to be met. The Bank's Monetary Policy Committee (MPC) is made up of nine members – the Governor, the two Deputy Governors, the Bank's Chief Economist, the Executive Director for Markets and four external members appointed directly by the Chancellor. The appointment of external members is designed to ensure that the MPC benefits from thinking and expertise in addition to that gained inside the Bank of England.